We are pleased to announce the successful transfer of Standard Chartered’s operations to Access Bank Cameroon. This divestiture is part of Standard Chartered’s global strategy to improve operational efficiency, reduce complexity, and foster growth at scale. In April 2022, Standard Chartered made the strategic decision to withdraw from several markets, including Cameroon. The migration completed today to Access Bank marks the completion of this divestment process and opens a new chapter for Access Bank.
Anna Asonganyi, Managing Director of Standard Chartered Cameroon, stated: “This transition represents a pivotal moment for Standard Chartered as we refocus our efforts on our core strengths. Throughout this process, our priority has been to ensure a smooth transition for our employees and customers, who are at the heart of everything we do. We are confident that with Access Bank, our customers and employees will continue to benefit from the same level of service and support they have come to expect.”
Commenting on the agreement, Kariuki Ngari, Managing Director and CEO of Standard Chartered Kenya & Africa, added: “In 2022, Standard Chartered announced its strategic decision to divest its operations in seven markets across Africa and the Middle East to improve efficiency, reduce complexity, and serve our clients where we can have the greatest impact. Today, Standard Chartered Cameroon is officially transferred to Access Bank, and we have worked closely together to complete this acquisition. As we finalize this transition to Access Bank, I would like to thank the regulators in Cameroon for their support, as well as all our employees for their contributions. I wish them every success in their future careers at Access Bank. Despite this exit from Cameroon, Standard Chartered will continue to facilitate and serve as a gateway for international capital flows into the country.”
Over the past few years, the teams from both banks have worked in perfect synergy to integrate their banking operations, including branches, staff, and customers, into Access Bank’s existing network. This integration is expected to open up new opportunities for growth and innovation in the banking sector, benefiting both customers and employees.
